In recognition of K92 Mining Inc.'s noteworthy contribution to the nation's mining industry and economic development for Papua New Guinea, Minister for Mining Wake Goi praised the company for its record-breaking production performance in the fourth quarter of 2024. "I extend my congratulations to K92 Mining for achieving this historic milestone in production. This record-breaking performance not only demonstrates the company's operational excellence but also underscores the strength and potential of our mining industry to drive economic growth and create employment opportunities for our people.” Minister Goi also acknowledged K92 for several efforts which include advancing its exploration efforts, paying corporate tax, and consistently operating within PNG's mining laws, business and national laws. He urged the company to maintain these standards, and he called on other mining companies to fully comply with the country's legal frameworks while recognizing those that continue to uphold these regulations and laws. K92 Mining Inc. reported a gold equivalent (AuEq) production of 53,401 ounces in Q4 2024 at its Kainantu Gold Mine—a remarkable 37% increase from Q4 2023 and a 21% rise from its previous record in Q3 2024. The company also surpassed its annual production guidance, producing 149,515 ounces AuEq for 2024, marking a 27% growth from the previous year. Minister Goi further highlighted the importance of responsible mining practices and acknowledged K92 Mining’s commitment to environmental sustainability, safety, and community engagement. "K92 Mining’s continued growth reflects a balanced approach to mining—one that prioritizes both economic success and environmental responsibility. I commend the company for upholding these values while contributing to the country’s development goals," he added. Additionally, Minister Goi thanked the landowners and communities for continues cooperation. He made note of outstanding landowner and community grievances to be addressed in due course, with consultation with the government and relevant authorities to find the best way to address these grievances. He also acknowledged concerns raised by the Member of the District, “All grievances are equally important and will be discussed with the Government on how best the grievances can be addressed.” The Minister emphasized the government’s support for mining companies that align with PNG's long-term sustainable development objectives. "The government is committed to fostering partnerships with responsible investors like K92 Mining. Their success sets a positive example for the resource sector, and we encourage other companies to follow this path by investing in our country and empowering our communities," Minister Goi stated. K92 Mining’s record production was driven by higher-grade ore from the Judd and Kora deposits, enhanced metallurgical recoveries, and ongoing infrastructure development in preparation for the company’s Stage 3 Expansion. Approximately 70% of the required growth capital for this expansion had been spent or committed by the end of 2024, with commissioning of the new process plant expected to begin in late Q2 2025. Minister Goi expressed optimism that the Stage 3 Expansion would further boost production capacity and solidify PNG’s position as a key player in the global mining industry. He said, "As K92 Mining advances its Stage 3 Expansion, we anticipate greater economic benefits for the country, including job creation, infrastructure development, and increased revenue. This progress is vital for achieving our national development goals. We stand ready to support companies that share our vision for sustainable and inclusive growth.” The Minister also called for collaboration and clear information between both the Government and responsible authorities to the investors and companies on processes and requirements for the sake of convenience. He noted that time is of the essence and delivering efficiently on time is important in successful mining dealings. “We need to ensure the system works efficiently, by providing the necessary information needed, under strict regulations and clear processes for investors on time. The importance of working in collaboration with the company, landowners, the government, and authorities will result in the smooth operations and mutual benefits in 2025," he added. Minister Goi reaffirmed the Marape-Rosso government’s commitment to ensuring that the resource sector delivers lasting value to the people of PNG. K92 Mining’s record-breaking performance has been widely recognized as a significant boost to the country’s economy, reinforcing confidence in the mining sector’s ability to drive the country’s long-term development.